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2012 (7) TMI 606 - CESTAT, AHMEDABADDemand of CENVAT credit and penalty u/r 15 r.w.s 11AC - the appellant had availed CENVAT credit in excess of the permissible credit - Held that:- While the show cause notice says that wrong formula has been applied under Rule 3(7) of CENVAT Credit Rules, 2004 resulted in excess availment of credit it does not say what is the correct formula - a simple worksheet has been given without indicating any formula and the original adjudicating authority has also not indicated what was the formula has to be adopted that there was an excess availment CENVAT credit but no information about the fact that whether it was because of calculation mistake or because of application of wrong formula - as that appellants paid CENVAT credit under protest as soon as it was pointed and subsequently after going through the relevant provisions, made the calculations and submitted the calculation sheet to the department would show that appellant have acted in a bonafide manner, as there was no intention to evade duty or avail wrong credit and what was happened appears to be a bonafide mistake - thus, imposition of penalty under Section 11AC is not warranted - decided in favour of assessee.
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